Cetera Investment Advisers Purchases 27,991 Shares of Eldorado Gold Co. (NYSE:EGO)

Cetera Investment Advisers raised its stake in shares of Eldorado Gold Co. (NYSE:EGO) (TSE:ELD) by 61.0% in the 2nd quarter, Holdings Channel reports. The firm owned 73,864 shares of the basic materials company’s stock after acquiring an additional 27,991 shares during the period. Cetera Investment Advisers’ holdings in Eldorado Gold were worth $1,092,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EGO. Tobam boosted its holdings in shares of Eldorado Gold by 14.8% during the 2nd quarter. Tobam now owns 5,036 shares of the basic materials company’s stock valued at $74,000 after purchasing an additional 651 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Eldorado Gold during the 2nd quarter valued at about $74,000. Headlands Technologies LLC bought a new position in shares of Eldorado Gold during the 2nd quarter valued at about $97,000. Virtu Financial LLC bought a new position in shares of Eldorado Gold in the 1st quarter valued at about $165,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Eldorado Gold in the 2nd quarter valued at about $191,000. Institutional investors own 69.58% of the company’s stock.

Eldorado Gold Stock Performance

Eldorado Gold stock opened at $18.02 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.62 and a quick ratio of 2.65. Eldorado Gold Co. has a 1-year low of $9.72 and a 1-year high of $18.85. The firm has a market capitalization of $3.69 billion, a P/E ratio of 31.61 and a beta of 0.95. The company’s 50-day moving average is $17.33 and its 200 day moving average is $16.12.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. Eldorado Gold had a net margin of 15.67% and a return on equity of 5.82%. The company had revenue of $297.14 million for the quarter. During the same period last year, the company earned $0.09 earnings per share. Research analysts forecast that Eldorado Gold Co. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EGO shares. Royal Bank of Canada increased their price target on shares of Eldorado Gold from $20.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. StockNews.com raised shares of Eldorado Gold from a “hold” rating to a “buy” rating in a report on Monday, July 1st. Scotiabank increased their price target on shares of Eldorado Gold from $18.00 to $20.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, CIBC increased their price target on shares of Eldorado Gold from $18.00 to $22.50 and gave the company an “outperformer” rating in a report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $19.38.

Eldorado Gold Profile

Eldorado Gold Corporation, together with its subsidiaries, engages in the mining, exploration, development, and sale of mineral products primarily in Turkey, Canada, Greece, and Romania. The company primarily produces gold, as well as silver, lead, and zinc. It holds a 100% interest in the Kisladag and Efemçukuru mines located in Turkey; Lamaque complex located in Canada; and Olympias, Stratoni, Skouries, Perama Hill, and Sapes gold mines located in Greece, as well as the 80.5% interest in Certej development projects located in Romania.